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Tag: vodacom

Vodacom, Neotel deal collapses

2016-03-01 01:00:00| Total Telecom industry news

Mobile operator cites 'regulatory issues' as it calls off its planned takeover of South African fixed-line player.

Tags: deal collapses vodacom neotel

Vodacom proceeds with acquisition of Neotel, drops spectrum

2015-12-08 13:18:00| Telecompaper Headlines

(Telecompaper) Vodacom South Africa announced it will proceed with the acquisition of Neotel, but has dropped the group's spectrum from the deal. In a statement, Vodacom said it reached a a revised agreement with Neotel on a modified transaction that does not include Neotel's spectrum. The new deal will see it acquire the majority of Neotel's assets related to its fixed-line business as a going concern, but excluding Neotel's spectrum licences. At the same time, Neotel will offer a roaming arrangement to all the mobile network operators, including Vodacom South Africa. The revised agreement addresses some of the concerns of rival operators and regulators that the takeover would give Vodacom too strong a position in terms of spectrum resources. Vodacom and Neotel have submitted the revised agreement to the Competition Tribunal, which has scheduled a pre-hearing for 10 December.

Tags: acquisition spectrum proceeds drops

Vodacom in talks with Neotel to revise acquisition terms

2015-11-23 09:43:00| Telecompaper Headlines

(Telecompaper) Vodacom said it started talks with South African operator Neotel about revising the structure of the proposed takeover of the operator. The operator also asked for a Competition Tribunal hearing on the deal to be postponed. The outcome of these discussions will directly impact the extent of the approval being sought from the Competition Tribunal and the scope of the hearing, the company said. The review was scheduled to start in Pretoria on 23 November, but has since been delayed. No reason was disclosed for the postponement. Vodacom was granted provisional approval by South Africa's antitrust and communications regulators earlier this year to buy Neotel, expanding its spectrum holdings and internet offering. The acquisition was first announced in May 2014 for ZAR 7 billion including debt. Conditions imposed by the regulator included the extension of broadband to rural areas and a pledge not to cut Neotel jobs. The deal has been opposed by competitors including MTN, which said the acquisition would give Vodacom dominance of South Africa's high-speed internet market. 

Tags: terms acquisition talks revise

Vodacom to rework Neotel takeover

2015-11-23 01:00:00| Total Telecom industry news

South African mobile operator requests postponement in Competition Tribunal hearing as it goes back to the drawing board on fixed operator acquisition.

Tags: takeover rework vodacom neotel

Vodacom Group H1 revenue grows 6.4%, EBITDA increases 13%

2015-11-09 08:43:00| Telecompaper Headlines

(Telecompaper) Vodacom Group reported 6.4 percent increase in its revenue for six months ended 30 September to ZAR 39.96 billion. Group EBITDA rose 13.0 percent year-on-year to ZAR 14.7 billion, and the margin was up 2.1 percent points to 36.7 percent. Group operating profit increased 7.8 percent to ZAR 10.17 billion, mainly due to EBITDA growth, partly offset by higher depreciation and amortisation. Capital expenditure rose to ZAR 6.22 billion from ZAR 5.88 billion in 2014, driven by rapidly expanding LTE coverage and increasing speeds. Headline earnings per share were up 6.0 percent to ZAR 4.40. The group declared a ZAR 3.95 interim dividend per share, up 5.3 percent from a year ago. Vodacom said its markets continue to be highly competitive, and regulatory and macroeconomic risks remain. EBITDA growth will not likely be sustained at the high rate of 13 percent in the second half. The second half will carry high costs for publicity and network and capability development in fibre and content. Year-over-year growth will be impacted by the stronger performance in the second half of last year where profitability stepped up as a result of efficiency initiatives. Also, there is a further reduction in MTR in South Africa from October, which will have a slightly negative effect on Vodacom's margin in the second half.

Tags: group increases revenue grows

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